Which of the following transactions would not result in an entry to the inventory account in the buyer's accounting records under a perpetual inventory system? a.The purchase of merchandise on credit b.The return of merchandise to the supplier c.The payment of a credit purchase of merchandise within the discount period d.The payment of freight by the supplier for goods received by the buyer

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Financial Transaction Analysis

The transaction analysis is done with the help of the accounting equation. The basic accounting equation is alternatively known as the balance sheet equation is based on the double-entry system which says that for each transaction happening in a business, at least two accounts should be affected I.e. both the debit side and the credit side should be equal. The Accounting Equation is